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In the latest market close, Schlumberger (SLB) reached $51.67, with a -0.63% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 1.2% for the day. Elsewhere, the Dow lost 0.65%, while the tech-heavy Nasdaq lost 1.79%.

Coming into today, shares of the world's largest oilfield services company had lost 1.65% in the past month. In that same time, the Oils-Energy sector gained 6.6%, while the S&P 500 lost 0.85%.

Analysts and investors alike will be keeping a close eye on the performance of Schlumberger in its upcoming earnings disclosure. The company's earnings report is set to go public on April 19, 2024. The company is expected to report EPS of $0.75, up 19.05% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.69 billion, up 12.37% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.53 per share and a revenue of $37.31 billion, indicating changes of +18.46% and +12.6%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for Schlumberger. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.45% fall in the Zacks Consensus EPS estimate. At present, Schlumberger boasts a Zacks Rank of #3 (Hold).

Looking at its valuation, Schlumberger is holding a Forward P/E ratio of 14.75. This indicates a discount in contrast to its industry's Forward P/E of 17.45.

One should further note that SLB currently holds a PEG ratio of 0.94. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. SLB's industry had an average PEG ratio of 0.99 as of yesterday's close.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 199, putting it in the bottom 22% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.